- Mattress Dollars: What project does the government want to promote to re-monetize the economy?
December 31 is the date for freezing the Authority’s funds Special Asset Regulatory Accounts (CERA). This mechanism allowed taxpayers Organize your assets (money) to Money launderingThis is done by paying the “special organization tax.”
he Asset management system -Money laundering- It was in three stages. And the last of them, as I mentioned Customs Collection and Control Agency (ARCA)Followers allowed Join until May 7 of this year Moreover, Submit your return until June 6. The cost of joining the scheme – in its final stage – included a 15% on the surplus of $100,000While the first two stages were “less difficult” (5% and 10% for the first and second sections, respectively).
The fact is that at the end of this year, CERA filed –With funds exceeding US$100,000– He will be released, as determined Law 27743.
“When the total amount Greater than $100,000so as not to be exposed to Retention 5% These funds must continue to be held in special accounts or allocated to destinations and investments authorized under the rule. Until December 31, 2025 inclusive“, they pointed out from ARCA.
At the end of June, the Treasury reported that the assets held in the CERA and ALyC accounts (Settlement and clearing agent) reached 24,467 million US dollars. At the same time, the “special tax” collected arrived 1,570 million US dollars.
“343,037 accounts were registered. Of the declared accounts, 17,167 correspond to accounts abroad, including jurisdictions such as the United States, Uruguay, Spain and Switzerland. In the amount of 295,514,374 US dollars″, Treasury reported.
from Central Bank of the Argentine Republic (BCRA) I was informed Historian Which ‘They have no record’ On deposits at CERA. Likewise, this medium also consulted official ARCA sources on this aspect, however At the time of publishing this article, there was no response.
It is worth noting that the capital deposited in CERA can be invested Public securities (national, regional, municipal and CABA), Shares listed on the local stock exchange, Negotiable commitments (the instrument through which Argentine companies assume debt), Mutual funds and Participation certificates or credit debt securities To finance Small and medium-sized enterprises.
It can also be added Real estate projects It starts from the date of expiry of the bleaching, or if that is not possible, when the degree of progress is less than 50% of the completion of the work.
For now, money Placed in instruments permitted by regulations also – The remaining amounts in private accounts, It will be available for free starting January 1.
Freeing up frozen funds “Special Asset Management Accounts”The question is whether these dollars can be pumped into the economy.
“Someone could use dollars, But the vast majority of those in this situation will maintain an investment destination. So, I don’t think it’s going to do much for the economy.said the tax attorney and CEO SDC Tax Consultants, Sebastian Dominguez.
“This money, if invested in viable assets, is already in the economy,” he added. Releasing it in terms of restrictions does not mean that people spend it“.
For her part, Sergio Bellera partner Gonzalez Fisher & Co. SAHe added that with regard to financial investments, Taxpayers had to “hold it until the end of the year.”.
While it is true that there may be instances where deposits are used Purchasing vehicles or real estateamong other examples, the truth is that Hardly all that volume is directed to these kind of destinations.
However, Beller says there may be some movement, as “it could certainly be applied to purchases of other types of investments not included in CERA accounts.”
Mattress Dollars: What project does the government want to promote to re-monetize the economy?
before Renewal of CongressThe government will return to the battle and will be strengthened once and for all “Financial Innocence Law” in Extraordinary sessions.
What does it consist of? Basically, the goal of this initiative is The dollars that Argentines keep “in their bed” are poured into the formal economy.
In mid-May, the executive branch presented this proposal as… “Historic Compensation Plan for Argentina’s Savings”. Until now, in joint work between Ministry of Economyhe Central Bank (BCRA) and Customs Collection and Control Agency (ARCA)So they took and announced:
- to implement Simplified earnings system.
- A Increase thresholds To report banking operations or through virtual wallets.
- Different cancellation Information systems.
Although the project did not have the necessary guarantees to proceed with its proper treatment, the truth is that the management President Javier Miley They will insist on discussing tax patent law.
The three axes on which the initiative is based are: Criminal tax procedure and system and tax returns.
The bill needs to be approved to provide a regulatory framework for Argentines, who, due to financial controls, often They chose to store their physical dollars outside the system.